Spain Producer Price Inflation Strongest On Record

Spain's producer prices continued to accelerate in October to hit a record high, data from the statistical office INE showed on Thursday.

Producer prices surged 31.9 percent year-on-year in October after rising 23.8 percent in the previous month. This was the fastest rate since the series began in January 1976.

Excluding energy, producer price inflation increased to 9.7 percent, the strongest since 1985, from 8.8 percent in the previous month.

Energy prices logged an annual growth of 87.3 percent in October. Prices of intermediate goods advanced 19 percent and that of consumer goods by 4 percent. Capital goods prices moved up 2.7 percent.

On a monthly basis, producer prices were up 6.1 percent versus 5.4 percent rise in September.

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